The effects of anticipated and unanticipated demand movements on oligopoly conduct

dc.contributor.advisor John R. Schroeter Gallet, Craig
dc.contributor.department Economics 2018-08-23T05:21:10.000 2020-06-30T07:06:10Z 2020-06-30T07:06:10Z Sat Jan 01 00:00:00 UTC 1994 1994
dc.description.abstract <p>Recent game-theoretic studies of the effects of demand movements on oligopoly coordination differ primarily in terms of whether demand shifts are anticipated or unanticipated. An empirical model is developed in this dissertation to test for the effects of anticipated and unanticipated demand movements. The model is estimated using rayon industry data from the 1930s, where the results suggest that coordination in the rayon industry was most difficult during periods when future demand was anticipated to be low and rising. Moreover, the results also suggest that the degree of coordination among rayon producers increased following significantly negative unanticipated decreases in demand;An extension of the basic model is developed by assuming that the degree of coordination is also dependent upon the present discounted value of expected future collusive profits. The estimation results from this extension suggest that coordination was most difficult when future rayon industry profits were expected to fall;Finally, according to several authors, it is likely that rayon producers used inventories to smooth production through-out the 1930s. Consequently, a simple stock-adjustment model is estimated, where the results support the production-smoothing role of inventories.</p>
dc.format.mimetype application/pdf
dc.identifier archive/
dc.identifier.articleid 11604
dc.identifier.contextkey 6408692
dc.identifier.s3bucket isulib-bepress-aws-west
dc.identifier.submissionpath rtd/10605
dc.language.iso en
dc.source.bitstream archive/|||Fri Jan 14 18:24:43 UTC 2022
dc.subject.disciplines Business
dc.subject.disciplines Economics
dc.subject.keywords Economics
dc.title The effects of anticipated and unanticipated demand movements on oligopoly conduct
dc.type article
dc.type.genre dissertation
dspace.entity.type Publication
relation.isOrgUnitOfPublication 4c5aa914-a84a-4951-ab5f-3f60f4b65b3d dissertation Doctor of Philosophy
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